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No obvious reason for the drop. Potentially some attempts to short ahead of the placement shares being admitted to trading. Price likely to be volatile until there is more certainty on forward plans re acquisitions.

Wouldn't mind those kind of warrants. 10% premium.on the placing price which was already 20% up on the share price.

Blows away the suggestion that a 20% discount was necessary to make a success of the SOUC placing.

Eco share price was 25p, placing price 30p with warrants at 33p. ECO has raised $12 million so a simillar order of magnitude to SOUC but they have added shareholder value. Their SP up over 5% this morning.

Have revisited some SOUC announcements and insights. The following video link being a helpful reminder.
https://youtu.be/2nax8Iru12w

I am coming to view the institutional share issue in a slightly more positive light.

-it should accelerate company growth during a period of historically high gas prices.
-The detail of the share raise prohibits the new holders from selling for four months which will prevent immediate profit taking and sets a timeline for the board to demonstrate shareholder value sufficient to offset the dilution.

Canacord have set a price target of double current levels following yesterday's announcements. We do need to see news of an acquisition and I would hope this will follow immediately after news on the placement.

A short term blip is inevitable but a sharp increase in SP before year end is not out of the question. Still disappointed that PI's were not given the opportunity to benefit from the discounted share price so the BoD owe us some good news to compensate. My sense/hope is they will deliver.


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@20:45

Existing P.I.'s will be hit hard by this dilution and discounting. It is a poor reward for our loyalty so I do hope your assessment comes good.

I trust the BoD are fully aware of their responsibility to private investors. A very rapid increase in SP will be required between now and year end if we are to find ourselves in a 'phenomenal position' to match that of the company and the new Institutional Investors heavily subsidised at our expense!). Let's hope the switched on board can offer some positive surprises to offset the ilikely mpacts of these actions.

A very unhappy P.I.

The dilution and the discount are significant. It's hard to see an immediate upside for private investors, though longer term growing the company cannot be bad.

I just hope they are buying a Shell or Exxon for £30 million as that might offset the short term impacts

Joking aside I hope I'm missing some hidden positives from this announcement

Not very happy about this level of dilution. A fairly contemptuous attitude towards existing shareholders takes more than the shine off the news of a doubling of production.

@viable. I'm up to my neck in Souc, and have a bit running with PTAL. This side of the pond I was in IOG but got out due to the difficult ownership structure which seemed to be negatively impacting shate price. The management there also seem accident prone..

I took a battering on my holding in SQZ when the UK decided to impose their windfall tax but hope to ride that out as they will be important players in satisfying UK energy demand this year and with Freeport down European gas prices are surging. SQZ management seem confident they can exploit investment incentives to offset the tax on profits.

From the Stockhouse forum across the pond.

"i was doing more DD on SOU and the next 2 wells are bigger, this first one GH19-3 #2 has 41 fracks, GH19-3 #3 has 44 fracks and GH 19-3 #4 has 50 fracks stages, i think the future is looking very bright here. and i am betting on it".

Could be a decent re-rate coming soon to compensate for the recent market sentiment drop.

If they decide to release info on 14 day flows we are probably looking at 23rd/24th so end of this week or potentially running over into Monday of next week. If they decide to hang on for 30 day flows we will be waiting into June.

SP is currently being pulled down by the henry hub gas price which is responding to the reduced LNG export capacity associated with the fire damage at the Freeport terminal. My sense is the drop in gas pricing has been overdone since Freeport is aiming to restore capacity in September, just in time for peak demand out of Europe where prices remain on an upward trend.

Back above $8 would be a nice start and should see a bit of a recovery on the tsx this afternoon.

@Viable.

Recommend you short ter temper expectations for the H2 economy. Current electrolyser technology is a very long way from being scalable to meet the needs of heavy industry (chemicals, steel, cement). These are all huge emitters of CO2 and the formative H2 sector will only reduce their emissions marginally in the coming 2-3 decades. These industries are keen to avoid cost of CCS which is still the most realistic option for them to reduce emissions. Their positive comments about H2 should be taken with a very large dose of scepticism.

Thank you Tom.Saved me the effort of replying to his nonsense.

It's particularly noticeable that he does not comment on the TSX volumes being 10 times their norm yesterday (and significantly higher than the volumes traded in London). Could that be because TSX share price finished the day up 17%?

Mr HKInvestors agenda and his denial of SOUC'S potential couldn't be more transparent.

Maybe HKInvestor should read the latest comments on SOUC at the end of the section in the latest Malcy's blog. Which I link here for his education.

https://www.malcysblog.com/2022/06/oil-price-kistos-chariot-southern-and-finally/

I will be surprised if London does not continue to follow the lead of the TSX and I will be surprised if London does not finish today significantly higher.

@ Viable.

Congrats and a thanks too as started to research SOUC due to some of your remarks in here.

£1 per share coming soon.

The RNS is a very encouraging read. The future looking good for SOUC. Expect to see further significant gains in SP over the coming days.

Touched $1.28 (81.5p) on the TSX yesterday. With Gwinville results imminent there is more to come from the SOUC SP.

A very upbeat review of SOUC's future.

'This is early days in my coverage of Southern but I recently met over Zoom with the management and I was most impressed. I have put the whole statement above for those who, like me need to see all the numbers right now. I expect to see a sharp rise in revenue and cash flow in the second half of this year with the Gwinville wells coming onstream with more to come.

Southern is a conventional play in the Cotton Valley in the US Gulf Coast, expect plenty more on the acquisition front, building significant cash flow and in due course regular dividends'

Full coverage here:

https://www.malcysblog.com/2022/05/oil-price-southern-energy-reabold-and-finally/

Encouraging 1st Q results out today. Year on year highlights include;

Adjusted operational cash flow more than doubled to $2.2 million from 1.0m

Capex up to $6.8 million from 0.05

Assets increased to 48.5 million from 29

Net debt down to $10.7 million from 22.5.

First of the 3 new Wells at Gwinville now online and producing with other two following imminently. Initial production from these new Wells to be announced in a few weeks time. Souc anticipating 'material production increases'

Would be nice if Toronto heads back to $1.20 (or higherr) this afternoon and drags LSE with it!
High volumes yesterday so you do get the sense they know something. Gas price today just adds to the positives here.

Henry Hub price up another 2% this morning. Edging back towards recent highs.